The AUDUSD has been on a lovely correction catching many people out in its aggressive up run.
However there is an inflection point about to happen, these being:
1.) The weekly trendline drawn above my prove to be a good resistance trendline and force the AUDUSD south in the resumed downtrend (on the higher timeframe). My analysis leads me to this conclusion as the likely due to both divergence and wave counts
2.) If price closes above the weekly down trend line then I'm expecting this pair to reverse and become a bullish pair for the remaining time of 2016.
For more information sign up to my webpage follow me here on tradingview: www.ejfxtrading.com
However there is an inflection point about to happen, these being:
1.) The weekly trendline drawn above my prove to be a good resistance trendline and force the AUDUSD south in the resumed downtrend (on the higher timeframe). My analysis leads me to this conclusion as the likely due to both divergence and wave counts
2.) If price closes above the weekly down trend line then I'm expecting this pair to reverse and become a bullish pair for the remaining time of 2016.
For more information sign up to my webpage follow me here on tradingview: www.ejfxtrading.com
